LPL and Ameriprise each scored recruiting wins Tuesday as both firms officially welcomed new advisors to their networks.
In New Jersey, LPL Financial welcomed Carmen and Chris Lex of Lex Wealth Management to its broker-dealer, RIA, and custodial platforms. The Marlton-based advisors previously worked with Corebridge Financial, where they managed approximately $630 million in advisory, brokerage, and retirement plan assets.
The brothers, who have worked together since 2014, specialize in financial planning, pension strategies, and social security analysis, particularly within the Public School Employees’ Retirement System.
“We had a lot of people who guided us to where we are today, especially our grandmother who taught us the importance of saving from a young age,” Chris Lex said in a statement Tuesday. “That fueled our drive to help others with important financial decisions.”
After more than 15 years in the industry, the duo sought greater independence in delivering financial guidance. In explaining their decision, Carmen Lex pointed to the "benefit from innovative technology, strategic business resources, a comprehensive product selection, and the support of an industry-leading wealth management firm."
Prior to Lex Wealth Management, LPL's recent additions include a $345 million Arizona team from Ameriprise and a father-and-son duo previously with UBS.
Meanwhile, Ameriprise Financial announced it has added Jeff Impey to its branch channel. Impey, who previously worked at LPL, manages approximately $130 million in client assets from his Roseville, California office. He has been in the financial services industry for more than 18 years and is joined by client service associate Bettie Jelks.
Impey said he was drawn to Ameriprise’s practice management resources and support structure.
“I wanted to align with a firm that would make it easier to provide more personalized service for my clients and has practice management resources to help me create efficiencies,” he said Tuesday.
While Ameriprise CEO Cracchiolo has gone on the record saying recruitment has reached irrational levels, the firm has continued to hold its own as a destination for experienced advisors. In 2024, the firm reported more than 400 new advisors, contributing to the total of 1,700 making the transition over the last five years.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
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